Looking For Great Deals? Try The Local Pawn Shop

By consumeristcareySeptember 6, 2008

Pawn shops are becoming an unlikely source of great deals thanks to the ongoing non-recession thing, according to CBS. Where else can you turn pop’s old watch into last month’s overdue rent check? We always see pawn shops as a half-step up from dumpster diving, a semi-acceptable sad-land where each abandoned item comes with a free story and a frown.

“This ladies Rolex retails for approximately $5,000, and it’s something we would offer for around $3,000,” explains [Stan Lukowicz from Capital City Loan.]

We also found a diamond ring appraised for $5500, selling for $1800.

A Mitre saw priced for $350 at Capital City Loan usually sells for about $600 in stores.

“When you come to a second hand store or a pawn shop, you can save dramatically from the retail because we don’t have the high mall rents and the large advertising budget that they have,” says Stan.

And keep in mind, everything is negotiable.

Pawned items aren’t synonymous with mint condition, so remember to ask about return policies, and as always, caveat emptor.